MOSCOW, July 14. /TASS/. Sweden’s music streaming service Spotify is officially launching in Russia on July 15. Russian users will be able to download more than 50 million songs starting with Wednesday, the company said in a statement.
Simultaneously, Spotify is expanding its geography of operation to 12 more countries apart from Russia: Ukraine, Moldova, Kazakhstan, Belarus, Albania, Bosnia and Herzegovina, Croatia, Kosovo, Montenegro, Serbia, Slovenia and North Macedonia. Overall, the service will now be accessible in 92 countries around the world.
According to Spotify Vice President for Markets and Subscriber Growth Gustav Gyllenhammar, 250 million people will now have access to the service after its latest expansion, while around 286 million people use it now.
Spotify can either be accessed for free in Russia or via a monthly subscription ranging from 169 rubles ($2.38) to 269 rubles ($3.78) depending on the type.
Russian Spotify users will also be able to play music on various devices and integrate them with Instagram, Facebook, Discord, Samsung, Android TV, Android Car, Apple CarPlay, Tinder, Google Maps, Nike Run Club and Xbox.
Spotify was founded in 2006 in Sweden, the service was first launched in 2008. In 2018, the company went public at NYSE in 2018, the IPO was hailed as a huge success. Spotify’s current market cap tops $48 billion.
According to J'son & Partners Consulting, the Russian streaming market is growing by 60% yearly and can hit 18.6 billion rubles ($261.5 million) by 2021. -0-aba